The Broad Principle That Requires Expenses to Be Reported in the Same

question 106

Multiple Choice

The broad principle that requires expenses to be reported in the same period as the revenues that were earned as a result of those expenses is the:

• A)Recognition principle
• B)Cost principle
• C)Cash basis of accounting
• D)Matching principle
• E)Time period principle

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Definitions:

USB 2.0

A standard for a faster version of Universal Serial Bus (USB), which allows for high-speed data transfer between devices and computers.

Audio

The technology of recording, transmitting, or reproducing sound, especially speech and music, through electronic systems.

Rewriteable Format

A storage media format that allows data to be written, erased, and rewritten multiple times such as CD-RWs or DVD-RWs.

Gigahertz (GHz)

One billion hertz.